Bulgaria's FinMin Reports Budget Surplus of 621.5 Million Levs at End of September

The Finance Ministry of Bulgaria reported a budget surplus of 621.5 million levs at the end of September, which represents 0.7 % of projected GDP. For comparison, Bulgaria had a budget deficit exceeding 1.4 billion levs at the end of September last year. At the end of September 2015, revenues and grants surpassed 24.1 billion levs, which represented an increase of 8.7 % compared to the same period last year. Tax proceeds exceeded 18.5 billion levs, non-tax revenues surpassed 2.8 billion levs, while grants (including EU funds) were in the excess of 2.7 billion levs. The expenditures, including the Bulgarian contribution to the EU budget, exceeded 23.5 billion levs, which represented an increase of 2.1 % compared to the end of September 2014. Non-interest expenditures exceeded 22.2 billion levs, interest payments and Bulgaria's contribution to the EU budget amounted to respectively 630.1 million levs and 624.5 million levs. As of September 30, the fiscal reserve amounted to 10.1 billion levs. According to preliminary figures and estimates, the ministry expects a budget surplus of 57 million levs at the end of October.

For comparison, Bulgaria had a budget deficit exceeding 1.7 billion levs at the end of October last year. The ministry expects both revenues and expenditures to exceed 26.5 billion levs at the end of this year's October.